13 October 2012

Nigeria: Electricity Privatization Will End in Fiasco, If - Seriake's SA

Lagos — Managing Director of Bayelsa Electricity Company Limited, Engr. Olice Kemenanabo has warned that the on-going privatization of electricity distribution in the country may end up in a fiasco if certain key post-acquisition success variables are not factored into the criteria for selecting the preferred bidders by the Bureau of Public Enterprises BPE.

Speaking on "The New Power Distribution Model, Peculiarities of the Niger Delta" in Lagos at the weekend, Kemenanabo who doubles as the Special Adviser to the Bayelsa State Governor on Power, urged the BPE to ensure that the best bidder with the best knowledge of the local environment and affinity with the State Governments should be some of the key considerations for selecting the preferred bidder for the new power distribution model.

Kemenanabo however, cautioned that electricity is not a product; but a process, stressing that, "we must make sure that the right technical framework is put in place to sustain the success of liberalization post-acquisition. Otherwise, the beautiful work already done by the respective privatization agencies shall end up making a hero out of a monopoly franchise we've all condemned as being the cause of the lack of electricity".

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